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Zamage Digital Art Imaging, Inc (Pinksheets: ZMGD) subsidiary Everdow is in the process of determining the scope of the project with Shenzhen Development Bank (SDB). At this stage, EverdowCRM is assessing the bank’s requirements and developing a plan in order to appropriate Everdow’s customer relations management software system for the Bank. EverdowCRM sent representatives from their leadership team, including two managers and several technical engineers, who will conduct a thorough analysis of needs and familiarize themselves with the current bank infrastructure. The outputs anticipated from this preliminary stage are the initial budget, timeline and strategy for development and implementation. This news directly follows the press release on June 22, which announced that EverdowCRM had signed a contract with Shenzhen Development Bank.

Aastrom Biosciences, Inc. (Nasdaq:ASTM), the leading developer of autologous cellular therapies for the treatment of severe cardiovascular diseases, reported that the company will pursue a Phase 3 clinical program for its autologous cell therapy for the treatment of critical limb ischemia (CLI) through the U.S. Food and Drug Administration’s special protocol assessment (SPA) process. Aastrom is currently completing a Phase 2b clinical trial of its cell therapy in patients with CLI and recently met with FDA officials to discuss plans for the Phase 3 program. “Our recent discussion with the FDA was very productive and identified a path for pursuing Phase 3 testing of our autologous cell technology in patients with critical limb ischemia,” said Tim Mayleben, president and CEO of Aastrom. “We now plan to proceed through the agency’s special protocol assessment process which will ensure that we and FDA agree on the Phase 3 clinical program. We appreciate the FDA’s thoughtful responses to our questions and their invitation to begin planning for the Phase 3 clinical program through the SPA process.”

World Heart Corporation (WorldHeart) (Nasdaq:WHRT), a developer of mechanical circulatory systems, reported that Jewish Hospital in Louisville, Kentucky, successfully implanted a Levacor(tm) Ventricular Assist Device (VAD) in the Bridge-to-Transplant (BTT) clinical study. This is the eighth implant of the Levacor VAD in the fourth implanting center in the study.

Power-One, Inc. (Nasdaq:PWER), a leading provider of renewable energy and energy-efficient power conversion and power management solutions, reported that it had sent notice to registered holders of its 8% Senior Secured Convertible Notes due 2013 (the “Notes”) that it is calling for redemption all outstanding Notes on August 11, 2010. The Notes were originally issued on June 17, 2008 in the aggregate principal amount of $80 million. As a result of buybacks of a portion of the Notes by Power-One, the principal amount of the outstanding Notes is approximately $34 million.

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